Research
Artificial Intelligence in Corporate Insolvency and Restructuring Proceedings
The aim of this research is to investigate any uses of AI in corporate insolvency. Identification of whether AI could be used to support resolution of corporate insolvency proceedings is a critical step towards modernising the insolvency regime, promoting innovation, improving its resilience, as well as supporting a sustainable business ecosystem and economy. The current approach to the sparse discourse on the benefits and risks of technological transformation in corporate insolvency, though helpful, is limited to anecdotal and doctrinal postulations. This contrasts with a body of accessible empirical data that indicate high costs and other operational inefficiencies in the current insolvency regime.
Recent legislative and policy interventions in insolvency law are driven by empirical data and multi- stakeholder consultations. Therefore, the research findings will be based on a multi-stakeholder driven experiment, which will provide empirical evidence of whether there are AI-adaptable insolvency tasks, existence or otherwise of AI tools for any such tasks, and outcomes (including costs and risks) where AI could be used to support any identified tasks.
